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The Effects of Bearish Trends on Litecoin

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Litecoin

Litecoin (LTC) is generally considered as a peer-to-peer cryptocurrency which is released under the MIT/X11 license. The coin is based on an open source cryptographic protocol. This coin is not managed by any central authority and its technical details are nearly same as Bitcoin (BTC). This coin founded by Charlie Lee, ranked 5th in Coinmarketcap.com (as of 2nd April 2018) with Market Cap $6,626,589,535, trading price $118.55 and Volume (24h) $300,155,000.

The coin is one of the top 90 cryptocurrencies on Coinmarketcap.com and it has been greatly affected by the bearish trend of the last two weeks on the cryptocurrency market. According to the market experts, Litecoin (LTC) shows little signs of possibilities to recover before Mid-April. The reason behind this entire downtrend can be traced as a general market sentiment. According to this, LTC or Litecoin may face some issues at this moment. Litecoin or LTC/USD has seen the downfall of -28.56% over the last 7 day trading period, and thus, it has settled below the $120 mark. If it does not get huge support, then, there is a possibility that it will break at sub-$100.

It is true that Litecoin is in a downtrend and the LitePay project helps in pulling up Lee’s dream for Litecoin. The coin that is looking for a new phase, currently facing a downfall and the collapse of the LitePay initiative has further worsened the matter. There was much discussion on the Litecoin camp on how to slip into the transactional market. The adoption of the LitePay strategy has been seen as a road to recovery. Its association with Amazon and Starbucks is also considered to be another huge possibility for the Litecoin.

The Outcome of the Bearish Trends

However, you must remember the fact that the coin that is ranked 5th on the Coinmarketcap.com, has seen some downfall, because of its competition with some of the projects. If it becomes failure to slip into the mainstream use then, the risk of the downfall further increases. The Abra wallet app also plays a vital role in recovering the possibilities of the Litecoin. Weeks before the bearish trend appear in the market the Litecoin or LTC has faced a bullish upsurge. In the mid-week of March, the coin was trading in $160-$169 range showing possibilities for upsurge. However, now the pressure turns into the negative results following the collapse of the LitePay. This further suppresses the spirit of the Litecoin. The coin has been lost almost half of its value in March. According to the Coinmarketcap.com, the value of LTC against the US dollar was $214, as of March 01, 2018. This value shows the downfall with its downgrade value by hitting as low as $110 on March 30, 2018.

What are Future Possibilities of the Litecoin for Bouncing Back?

It is true that the total market outlook is still bearish, but the only hope is that it has been made some recovery. The Litecoin/USD pair has seen the downfall of 2% that is below the $120 mark. However, the only ray of hope is that the coin hits up a high value of $124, on March 30, 2018, although it ends up with a closing value of $118.60.

Nevertheless, what can be said is that the Litecoin and the other top cryptocurrency coins are expecting a definite comeback. The outlook of the cryptocurrency market including the Litecoin may reach some higher value towards mid-April. Following the US Tax Day on April 17, 2018, there is an expectation of increased activity in the market as the investors wanted to readily file for 2017 tax returns.

The situation of the Litecoin is said to be a blessing in disguise. Because of the fast transactions and cheap fees, many dark websites are planning to use Litecoin instead of the Bitcoin or Monero. Some cryptocurrency experts believe the fact that Litecoin may follow the trend of the Bitcoin’s performance. According to the recent research, the Litecoin are drawing the attention of the many dark web users, which in turn open up the possible avenues for Litecoins.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Lebatihem via Flickr

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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